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As I mentioned in previous posts, there has been a concerted effort by the ECB to shoot itself in the foot by buying up USD very suddenly to create this mini-rally in the greenback. What I didn't realize was that China was playing a big role behind the scenes all the while. This is interesting stuff, but again does not signal a fundamental return to strength in the American currency, but rather a sacrificial move by central banks to acquire weak dollars to prevent a breach of that key technical impasse at 72 for the USDX. A reach of 72 on the USDX would have made 62 the next technical target, and worldwide dollar selling would have accelerated substantially. The mark will be defended again when the dollar resumes its inevitable slide, and they might even succeed in creating another meaningless mini-rally, but ultimately these types of intervention cannot be upheld since they represent a dangerous disconnect from the actual value of the currency. A market where buyers buy because they fear the consequences of not doing so is not a healthy market. I sure hope no Fools are long the USD here. [more]